224A.260 Authority may finance pollution control facilities.

198 words·~1 min read·/ky/chapter-224a/224a-260

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The Kentucky Infrastructure Authority may finance pollution control facilities in the

manner provided by KRS 103.246. For such purposes, the terms "city" and "county"

as used in KRS 103.246 shall also mean and refer to the Kentucky Infrastructure

Authority.

(2)The authority may enter into the agreements with the United States Small Business

Administration as shall be necessary in connection with the financing of pollution

control facilities in order to provide for the guarantee of bonds or notes of the

Kentucky Infrastructure Authority by the United States Small Business

Administration.

(3)The authority granted to the Kentucky Infrastructure Authority by this section shall

not include the power to acquire property, rights-of-way or easements by

condemnation.

(4)Neither the Kentucky Infrastructure Authority nor the state or any political

subdivision of the state shall be pecuniarily responsible or liable in any manner for

the payment of principal of and interest on bonds or notes issued by the authority

under this section. The bonds or notes shall be payable solely from revenues,

receipts and payments derived from the lease, sale or vesting of the pollution

control facilities in and to industrial concerns and utility companies with whom the

authority contracts.